Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.002%

Price spread now: BloFin against Hyperliquid−0.095%107s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$670.674% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.037%−$4 · spread now −0.095%, 7d avg −0.025%

Together, before fees−0.057%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.069% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.025%. The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.032	0.0100	pay 0.0013% / 1h	25m 27s	$482K	$228K	3x
Short	BloFin TRB-USDT	19.014	0.0092	get 0.0046% / 4h	1h 25m	$359K	$173K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee BloFinbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$1.59
Price spread: −0.095% → −0.025%: −$6.95
Slippage, 4 orders: −$46.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$75.95
Costs to cover: 0.674%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 54 min ago; BloFin: live order book, 55 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 54 min ago	2.87 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 55 min ago	0.52 bp	16.2 bp −$16	37.8 bp −$378	doesn't fit	doesn't fit

TRB on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin TRB-USDTshort	+0.0092%	4h	19.014	−0.095%	$359K	$173K	50x
Hyperliquid TRBlong	+0.0100%	1h	19.032	long leg	$482K	$228K	3x
Aster TRBUSDT	+0.0100%	4h	19.011	−0.108%	$9K	$21K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.012	−0.105%	$5.0M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.041	+0.047%	$6.2M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.040	+0.042%	$4.4M	$4.6M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.011	−0.110%	$14.4M	$904K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.013	−0.100%	$1.1M	$308K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.020	−0.063%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.025	−0.037%	—	$16.5M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0100%	4h	19.036	+0.019%	$14K	$3K	—	as long as short
Gate TRB_USDT	+0.0182%	4h	19.030	−0.011%	$574K	$1.5M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1245%	1h	19.026	−0.032%	$101K	$98K	10x	as long as short